Linde Bangladesh wants to demerge hard goods business

Linde Bangladesh Ltd, a medical and industrial gas producer in the country, has decided to restructure and reorganise its gas and hard goods business.

Besides, the company will demerge its hard goods business such as welding products and equipment to a wholly owned subsidiary subject to the High Court approval, said company officials at a board meeting on Sunday (12 March).

It also decided to take approval for the demerger from the shareholders through an extraordinary general meeting (EGM) which will be held on 11 May.

The company said in its price sensitive statement, after getting approval from the High Court, the hard goods business will be hived down to a wholly owned subsidiary and will bring much needed diversity in the product range.

Linde earned over 60% annually from its hard goods business, the rest came from gas selling.

Besides, Linde Bangladesh also recommended to pay a 420% cash dividend to its shareholders for 2022.

Earlier, it had paid a 550% cash dividend to its shareholders for 2021.

In the last year, its earnings per share dropped by 28% to Tk58.04 compared to the previous year.

Linde Bangladesh got listed on the Dhaka Stock Exchange (DSE) in 1976 under the fuel and power sector when the stock market resumed trading after independence.

Its shares were traded on the floor price at Tk1,397 each on Sunday at the Dhaka Stock Exchange.